Bolton & Company, Lonza, Naturex and DSM made recent announcements discussing changes affecting both their businesses and the industry as a whole.
KeHe Distributors is enforcing higher liability insurance requirements for their nutritional products suppliers, according to Greg Doherty, EVP and managing director, Dietary Supplement Practice Group at Bolton & Company Insurance Brokers. Doherty said KeHE’s actions to raise insurance requirements follow similar steps taken by Whole Foods Market, Walgreens, UNFI and NBTY in recent years. KeHE’s minimum liability requirement is US$5,000,000 per occurrence and aggregate, along with the usual and customary “additional insured" status for KeHE. This requirement only applies to companies supplying KeHE with vitamins, minerals, herbs and nutritional supplements. All other products supplied to KeHE only need to provide US$2,000,000 of coverage. This is similar to the “tiered requirements" used by others such as Whole Foods. Dietary supplements are invariably in the top tier, which requires the highest level of insurance, meaning that there is a perception that supplements and other nutritional products are more risky than food and other sundries.
In addition, Lonza announced a worldwide price increase of 15 percent for niacin and niacinamide. The price increase will come into immediate effect as contracts allow.
Meanwhile, Naturex unveiled its new strategic plan, “BRIGHT 2020," which sets the group’s vision and ambitions for the next five years. BRIGHT2020 reinforces Naturex in its position as a pure natural player in a market facing many environmental, social, economic and regulatory challenges. BRIGHT 2020 puts the consumer at heart of Naturex’s culture and business model, with the goal of disciplined development delivering sustained and profitable growth. The success of the plan resides in Naturex’s strengths together with the company’s mission: to actively foster the global shift to natural. Read more about the plan on the company’s website.
DSM launched a new campaign in hopes of shining the spotlight on scientists who are helping to change the industry and the world. The campaign, “Science Can Change The World," kicked off with a video celebrating four visionary scientists with the strength and persistence to pursue their dreams, driving home the message that science can play a pivotal role in creating solutions to societal challenges. On the campaign’s new website, a series of vignettes are also rolled out that salute the pioneers from the past and tell the inspiring true stories of some of the most influential game changers working in science today.